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Discontinued Operations | 12 Months Ended
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Dec. 31, 2014
Discontinued Operations | 5. Discontinued Operations In August 2014, the Company entered into a stock purchase agreement to sell the Simonton windows business for $130 million in cash. The sale was completed in September 2014. Simonton is presented as a discontinued operation in the Company’s financial statements beginning in the third quarter of 2014 in accordance with ASC requirements. Simonton was previously reported in the Advanced Material Windows & Door Systems segment, which has been renamed the Doors segment. In addition, in December 2014, we committed to a plan to sell our Waterloo tool storage business and therefore classified it as a discontinued operation. We expect to sell Waterloo by the end of 2015. Waterloo was previously reported in the Security & Storage segment, which has been renamed the Security segment. The consolidated statements of comprehensive income and consolidated balance sheets for all prior periods have been adjusted to reflect the presentation of Simonton and Waterloo as discontinued operations. The following table summarizes the results of the discontinued operations for the years ended December 31, 2014, 2013 and 2012.
(in millions) |  | 2014 |  |  | 2013 |  |  | 2012 |
Net sales |  | $ | 369.4 |  |  | $ | 453.8 |  |  | $ | 456.3 |
(Loss) income from discontinued operations before income taxes |  | $ | (90.8 | ) |  | $ | 34.4 |  |  | $ | 18.8 |
Income taxes |  |  | 23.5 |  |  |  | 12.5 |  |  |  | 7.4 |
(Loss) income from discontinued operations, net tax |  | $ | (114.3 | ) |  | $ | 21.9 |  |  | $ | 11.4 |
The 2014 loss from discontinued operations, net of tax, included a loss on sale of the Simonton business of $111.2 million as well as $14.1 million of restructuring and impairment charges for Waterloo in order to remeasure this business at the estimated fair value less costs to sell. The following table summarizes the major classes of assets and liabilities of Simonton and Waterloo, which are now reflected as a discontinued operations on the consolidated balance sheet:
(in millions) |  | December 31, 2014 |  |  | December 31, 2013 |
|  | (Waterloo only) |  |  | (Simonton and Waterloo) |
Accounts receivable, net |  | $ | 40.1 |  |  | $ | 74.3 |
Inventories |  |  | 15.9 |  |  |  | 42.6 |
Other current assets |  |  | 7.3 |  |  |  | 9.5 |
Total current assets |  |  | 63.3 |  |  |  | 126.4 |
Property, plant and equipment, net |  |  | 13.3 |  |  |  | 66.2 |
Goodwill |  |  | — |  |  |  | 86.1 |
Identifiable intangibles, net |  |  | — |  |  |  | 123.9 |
Other non-current assets |  |  | 4.0 |  |  |  | 1.5 |
Total assets |  | $ | 80.6 |  |  | $ | 404.1 |
Accounts payable |  | $ | 8.5 |  |  | $ | 29.0 |
Other current liabilities |  |  | 9.0 |  |  |  | 31.8 |
Total current liabilities |  |  | 17.5 |  |  |  | 60.8 |
Other non-current liabilities |  |  | 3.4 |  |  |  | 57.0 |
Total liabilities |  | $ | 20.9 |  |  | $ | 117.8 |

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 + Details
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